BRAZIL: Economists Pare 12-month Inflation Forecast To 3.77%

07/16/2018 - 13:23:00 (RTTNews)

(RTTNews) - The median forecast for Brazil's consumer price inflation in the next 12 months fell for the fifth consecutive week, to 3.77% from 3.80% a week before, according to economists surveyed by the South American country's central bank.

For 2018, the economists decreased their inflation forecast after eight consecutive increases, to 4.15% from 4.17% last week. For 2019, the forecast remained stable at 4.10% for the fourth week, while for 2020 and 2021, annual inflation is estimated at 4.00% for 54 weeks in both cases.

The annual inflation rate in Brazil accelerated to 4.39% in June from 2.86% in May, nearing the center of central bank's target, which ranges from 3% to 6%. June's reading was affected by the truckers' strike that occurred in Brazil in May.